What we do
Specialized Tax Advisory & Consulting
Tax is a highly specialized field that necessitates highly educated and specially-skilled professionals, which is why your own in-house accountants may not have mentioned the tax breaks and credits available for your specific industry type. We specialize in these types of specialized tax credits and refunds to put your company in the best tax position possible. We are here to serve as your advisors and leaders, as well as in other roles as needed. Manufacturers currently have access to a plethora of exemption programs.
We will ensure that you are receiving the maximum benefits and will suggest financial arrangements or advice as needed to qualify for extended relief.
Tax Credit and Refund Preparation
There are federal and state tax credits and exemptions available to manufacturers who qualify for specific credits. The criteria for federal and state tax credits and exemptions are extremely specific, which can be confusing or overwhelming.
We are here to analyze your company structure and advise you on how to get the best financial position possible.
Internal & External Company Analysis
MTRS does more than just perform tasks; we intuitively educate your designated staff on the process. MTRS will conduct an analysis of your business to determine the most advantageous tax credits and refunds available. This creates a continuous succession plan for success.
Taxes, in general, and tax law in particular, are constantly evolving. To stay current on the most advantageous positions, we recommend developing a long-term relationship with MTRS, where all relevant resources will be shared and provided.
We can set up a customized training for your industry and company structure in person or via webinar with your company.
And what we specialize in
Employee Retention Credit
A temporary refundable payroll tax credit designed to help businesses recover from COVID-19 impacts. The CARES Act encourages businesses to keep employees on their payroll. This does not have to be paid back and is fully refundable even when taxes are not owed. For 2020, you can receive up to $5,000 per employee and up to $28,000 for 2021.
Research and Development Tax Credit
Regardless of the industry, any company that develops new or improved products, processes or software could qualify. Examples of types of companies are manufacturers, software developers, food industry, engineering firms, technology companies and more. We have saved companies tens of thousands to hundreds of thousands of dollars. If eligible, the R&D credit not only significantly applies to business where you can carry back 3 years and forward 20, but it also flows through individual returns if certain business structures are in place.
Sales and Use Tax Recovery
MTRS provides clients with sales tax recovery services of state and local taxes to reduce mistaken payments and enhance bottom lines. Most States have a three to four-year statue, so if you don’t act proactively, your company is losing non-recoverable profit.